Labor Day is almost here and for many of us that means sleeping in and grilling out. Labor Day is the perfect time for poolside get-togethers, backyard barbeques, and for those of us shoppers, chasing Labor Day weekend sales. It’s also the last 3-day weekend before school really gets started and the big holiday spending sprees begin. But just because you have an extra day to spend however you’d like doesn’t necessarily mean that you have the money to splurge! Looking for a challenge that is as personally rewarding as it is financially rewarding? Give your wallet a much-deserved break this Labor Day, and save $1,000 by this time next year with these simple tips.
Sometimes the hardest part about doing something you know is good for you in the long run is just getting started. $1,000 seems like a lot to save, especially when you’re already short on cash. But $20 a week can go a long way. Putting away $20 a week adds up fast, and with 52 weeks in a year, you’ll reach your goal faster than you realized without making drastic changes to your lifestyle. The longer you save for, the less you have to contribute at a time, so start saving now and make your financial goals work for you.
Saving also means being responsible with your spending and avoiding unnecessary expenditures. Those Labor Day sales might look tempting, but don’t forget to take the time to examine your purchases before making a final decision, especially when it comes to big ticket items. Try making pro/con lists when it comes to those items you’re on the fence about and giving yourself a 24-hour cool-off period before pulling the trigger on a big buy this Labor Day weekend so you don’t end up with buyer’s remorse.
Saving money doesn’t mean counting every penny, but it does mean taking a more responsible approach with your finances. When was the last time you checked your bank account? If you’re not sure, it’s probably been too long. But if you have a smart phone and you want to have more control over your spending, there’s an app for that! There are hundreds of apps that can give you a breakdown of your spending, help you budget yourself, forecast your projecting spending/saving, and even save money for you! Technology has made it easier than ever to take the wheel when it comes to your finances, so you have a suite of budgeting and money-saving tools all at your fingertips.
Grilling is a classic for days off, and Labor Day is no exception. Hosting a Labor Day BBQ can be a relaxing way to get outside, catch some rays, and of course, prepare some delicious food. But what if you’re not feeling financially prepared? We all want to be the host with the most, but that can take time and money we don’t have, and no one wants to feel spread too thin on their day off. Instead of shouldering the party-planning burden, get your friends and family in on the conversation. You can host and feed a lot more people for less with proper planning and coordination. Inviting your guests to bring their own beverages and some of their favorite foods to grill will not only offer more variety, but also provide a cost-effective solution.
And a potluck approach isn’t just great for your Labor Day festivities. The easiest way to relax and get together regularly with the people close to you without spending an arm and a leg is to share and share alike. When your party fund doesn’t come at the cost of your long-term goals, you’re really cooking! Your guests will love the added variety, and everyone will spend less than if they’d tried to host their get-together alone.
You shouldn’t need title loans to finance your day off with the right mindset. Spending money to go out can be more stressful than relaxing when you’re low on cash; just a walk outside can be healthy and revitalizing. The best part is, it’s free! A little sunshine and fresh air paired with a fun activity could be just the thing to get your mind out of work-mode without spending. Here are just a few examples of things to do for less this Labor Day:
Take a walk on the wild side and reconnect with nature instead of spending too much time (and money) at the movies or mall. A little outdoor exercise goes a long way.
Many people see Labor Day weekend as an excuse to hit the stores or get away for the weekend when it’s really the perfect time to hit pause and take an extra moment to appreciate the fruits of your labor and how much your hard work has paid off. Remember to enjoy what you have already, surround yourself with the things you're grateful for and allow yourself to relax and enjoy yourself this Labor Day. Simply enjoying what you have and not caving to your cravings today can help you reach your long-term financial goals that much faster.